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Crypto exchange Binance temporarily restricts ‘Pay with Bank Card’ feature in Switzerland, South Korea

Image by Binance from Twitter

Tue, 14 Apr 2020, 09:52 am UTC

Crypto exchange Binance announced that it has temporarily disabled Visa and Mastercard payments in the “Pay with Bank Card” feature in a number of countries and regions worldwide.

The feature is no longer available in Argentina, Brazil, Colombia, Hong Kong, India, Indonesia, Israel, Kazakhstan, Kenya, Malaysia, Mexico, Nigeria, Peru, Philippines, Singapore, South Africa, South Korea, Switzerland, Taiwan, Turkey, and Vietnam.

Meanwhile, users in the following countries can continue using the service as normal:

Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Republic of Cyprus, Romania, Russia, Slovakia, Slovenia, Spain, Sweden, UK, and Ukraine.

In another announcement, Binance revealed that it renamed Binance Lending to Binance Savings. It also renamed Flexible Deposits to Flexible Savings and Fixed Deposits to Locked Savings.

Binance Savings can be accessed under “Savings” from the “Earn” tab in the main menu. Another update Binance made is the addition of “hedge mode” on Binance Futures.

The new hedge mode allows users to hold a position in both long and short directions at the same time under the same contract. It also allows switching between one-way mode and hedge mode in the Preference setting. However, by default, it is set to one-way mode.

Binance has also partnered with software companies Steamr and Brave. Its partnership with Steamr Network encourages and enables algorithmic traders to better build automated trading strategies and combine them with other data on Streamr.

Meanwhile, integrating Binance on the Brave browser enables users to enjoy seamless and convenient crypto trading.

“By bringing a leading exchange like Binance directly into the browser, Brave is taking cryptocurrency trading mainstream and enabling users to conduct a transaction with ease,” said Brendan Eich, CEO and co-founder of Brave.

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